Kateeva Raises $88M Series E Round

Kateeva, a Newark, California-based company working on an inkjet printing manufacturing equipment solution for OLEDs that can be used to mass-produce bendable displays that can be folded, has closed a Series E funding round with $88 million in financing.

The new Kateeva investors are BOE, Cybernaut Venture, GP Capital Shanghai, Redview Capital, and TCL Capital, all located in China. They join existing investors Samsung Venture Investment Corporation (SVIC),  Sigma Partners, Spark Capital, Madrone Capital Partners, DBL Partners, New Science Ventures, and Veeco Instruments. New Board seats will be filled by executives from BOE, Redview Capital, and TCL Capital. The company has raised $200 million since it was founded in 2008.

Kateeva says the funds will accelerate new product development, as also help the company expand manufacturing capacity at its Silicon Valley headquarters.

The market for plastic and flexible OLED displays will reach $2.1 billion, says Guillaume Chansin, senior technology analyst at research firm IDTechEx. By 2020, it is estimared to surpass $18 billion. While mobile phones and wearables are currently the two main applications, the technology can be expected to be found in tablets and automotive in the coming years.

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